SGS is pleased to announce the acquisition of Innovative Technical Services ("Intech"). Intech is a privately held engineering and consulting firm specializing in production allocation modelling to the oil and gas industries. Founded in 2001 and located in New Orleans and Houston, Intech employs 19 full-time staff and have revenues in excess of USD 3 million. Link: Click Here

Actelion provides an update on the strategic agreement with Trophos S.A. Pivotal clinical study by Trophos with olesoxime in Amyotrophic Lateral Sclerosis did not reach statistical significance on the primary endpoint - Actelion will consequently not exercise the option to acquire the company. Link: Click Here

Newron Pharmaceuticals S.p.A. (“Newron”), a research and development company focused on novel CNS and pain therapies, announced today that  new data on safinamide will be presented at the  XIX World Congress on Parkinson’s Disease and Related Disorders (PDRD), December 11-14, 2011, in the  Shanghai International Convention Center,  Shanghai, China. Link: Click Here

Novartis today announced additional results from two pivotal Phase III trials evaluating Janus kinase (JAK) inhibitor INC424 (ruxolitinib) in myelofibrosis. These data demonstrate the important potential role of INC424 in treating patients with myelofibrosis, a life-threatening blood cancer characterized by bone marrow failure, enlarged spleen (splenomegaly) and debilitating symptoms. Link: Click Here

Novartis: Phase III clinical trial data presented today contribute to the growing evidence that adult patients with Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in chronic phase who are treated with Tasigna (nilotinib) have deeper levels of response compared to those treated with Glivec (imatinib). Link: Click Here

Cicor (SIX: CICN), a leading high-technology industrial group internationally active in the printed circuit boards, microelectronics and electronic solutions, is considering consolidating its production sites in Switzerland. The move would affect the company's Unterägeri facility, which would be merged with that of Boudry. The restructuring costs would impact the Cicor Group's overall results in 2011. Link: Click Here

Schindler wins contract for new Roche headquarters in Basel. Schindler has been chosen to supply elevator systems for the new main office building of Roche in the city of Basel. The contract includes 14 Schindler 7000 high-rise elevators, as well as a state-of-the-art traffic management system, for what will be Switzerland’s tallest building. Link: Click Here



Economy
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UK RICS survey shows modest improvement in housing market activity. The RICS housing market survey reported improvements in both prices and housing activity, although respondents suggested they expect activity to slow again. The headline net price balance increased to -17 from -24 previously (consensus/BarCap: -25), while the price expectations balance was broadly stable at -21 from -22 previously. Link: Click Here

S&P 500 earnings estimates should fall, but market prices reflect slower growth. Over the past two years, on numerous occasions investors have asked us to explain the divergence between the strong recovery in corporate earnings and tepid domestic economic growth. Link: Click Here
 

Mixed bag - overall assessment of last week is rather mixed. Our overall assessment of last week is rather mixed. On the positive side, there is more money for the IMF and the ECB has moved a long way to support bank funding through heavy deleveraging. But the fundamental causes of the crisis remain largely unaddressed and the defaults of the current crisis management mechanisms have not receded. Link: Click Here